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<p>[QUOTE=&quot;Burton Strauss III, post: 3586293, member: 59677&quot;]You do realize that segniorage is different than surcharge, right?</p><p><br /></p><p>segniorage is the difference between the face value of the coin and the cost to manufacture. When a coin is monetized somebody - usually the mint or the treasury books that gain to an asset account.</p><p><br /></p><p>&nbsp;If the coin is ultimately destroyed, the difference between the face value and whatever is recovered from metal is supposed to be to ducted from that asset account creating profit.</p><p><br /></p><p>So what was the value of an ounce of gold at the time these coins were minted? </p><p><br /></p><p>In 1988 gold was between $470 and $492 per t oz and there were 855.8 won to the dollar. If that&#039;s right then the troy ounce coin was worth 410000 Won. And there wouldn&#039;t have been any segniorage.</p><p><br /></p><p>With the US commemorative coin programs you don&#039;t get paid the surcharge until you&#039;ve covered the cost of good sold in the manufacturing.</p><p><br /></p><p>Maybe that&#039;s how they&#039;re using the term - they paid for the manufacturing rights they paid for the discounted price of the coin and they paid all the manufacturing charges... That gives them a fixed value for cost of goods sold and whatever they made less sg&amp;a would be their profit for the games.[/QUOTE]</p><p><br /></p>

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